MH17 Tragedy: Malaysian Life Insurance Companies to speed up claims process for compensation payouts to next-of-kin
Kuala Lumpur, 24 July 2014: The Life Insurance Association of Malaysia (LIAM) expressed its heartfelt condolences to the family members and friends of passengers and crew members on board the ill-fated MH17.
“Our members have agreed to waive the requirement of death certificates and will speed up the claims payment within a week once the beneficiaries have been confirmed. This tragedy involves many innocent lives. Even though some of the policies have exclusion clause, LIAM member companies are making special consideration to waive this clause under the extraordinary circumstances.” said Mr Vincent Kwo, President of LIAM.
It is reported that some 95 life insurance policies involving about RM13.7 million have been taken up by Malaysian passengers and crew members on board MH17.
“Our thoughts and prayers are with the families and friends of the 298 innocent lives in this time of grief and sorrow.”
Family members or next-of-kin of policyholders can contact the respective insurance companies directly or the Life Insurance Association of Malaysia if they wish to find out more about their loved ones’ insurance coverage.
Life Insurance Association of Malaysia
Telephone: 03-26916628/03-26916168
Fax : 03-26917978 Email : liaminfo@liam.org.my
LIAM Member of Companies
1. AIA Bhd
2. Allianz Life Insurance Malaysia Berhad
3. AmLife Insurance Berhad
4. AXA AFFIN Life Insurance Berhad
5. Etiqa Insurance Berhad
6. Gibraltar BSN Life Berhad (formerly known as Uni.Asia Life Assurance Berhad)
7. Great Eastern Life Assurance (M) Berhad
8. Hannover Rueck SE, Malaysian Branch (reinsurer)
9. Hong Leong Assurance Berhad
10. Manulife Insurance Berhad
11. Malaysian Life Reinsurance Group Berhad (reinsurer)
12. MCIS Insurance Berhad (formerly known as MCIS Zurich Insurance Berhad)
13. Prudential Assurance Malaysia Berhad
14. Sun Life Malaysia Assurance Berhad (formerly known as CIMB Aviva Assurance Bhd.)
15. Tokio Marine Life Insurance Malaysia Bhd
16. Zurich Insurance Malaysia Berhad
